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Thick vs. thin-skinned : technology, news, and financial market reaction /
We study the impact of technology on the reaction of financial markets to information, focusing on the foreign exchange market. We contrast the "thin-skinned" view that technological improvements cause markets to react more to new information with the "thick-skinned" view that th...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Colección: | IMF working paper ;
WP/17/91. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Eichengreen, Barry J., |e author. | |
| 245 | 1 | 0 | |a Thick vs. thin-skinned : |b technology, news, and financial market reaction / |c by Barry Eichengreen, Romain Lafarguette and Arnaud Mehl. |
| 264 | 4 | |c ©2017 | |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2017] | |
| 300 | |a 1 online resource (38 pages) : |b illustrations, map, tables. | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/17/91 | |
| 520 | 3 | |a We study the impact of technology on the reaction of financial markets to information, focusing on the foreign exchange market. We contrast the "thin-skinned" view that technological improvements cause markets to react more to new information with the "thick-skinned" view that they react less. We pinpoint exogenous technological changes using the timing of the connection of countries via the submarine fiber-optic cables used for electronic trading. Cable connections dampen the response of exchange rates to macroeconomic news, consistent with the "thick-skinned" hypothesis. This is in line with the view that technology eases access to information and reduces trend-following behavior. According to our estimates, cable connections reduce the reaction of exchange rates to U.S. monetary policy news by 50 to 80 percent. | |
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Economic development. | |
| 650 | 6 | |a Développement économique. | |
| 650 | 7 | |a economic development. |2 aat | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Industries / General |2 bisacsh | |
| 650 | 7 | |a Economic development |2 fast | |
| 700 | 1 | |a Lafarguette, Romain, |e author. | |
| 700 | 1 | |a Mehl, Arnaud, |e author. | |
| 776 | 0 | 8 | |i Print version: |a Eichengreen, Barry J. |t Thick vs. Thin-Skinned: Technology, News, and Financial Market Reaction |d Washington, D.C. : International Monetary Fund,2017 |z 9781475593488 |
| 830 | 0 | |a IMF working paper ; |v WP/17/91. | |
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